Publica is an ERC20 token that is looking to make a big splash in the world of online publishing. The entire publishing industry currently pulls an average of 27-28 billion a year in sales revenue, with well over 200 million of those sales being e-books. Total sales revenue for e-books is expected to hit 20 billion by end-of-year 2018. So while this may seems like a niche market for now, it’s far from a small one.

I’m sure you are all well aware from our history, but IRG is incredibly fond of tokens that solve a problem and offer utility. PBL offers a wide berth of solutions compared to the current e-publishing scene, as the only major online publisher, Amazon, currently takes 50% of the author’s revenue, forcing the burden of cost off the customer. Publica addresses this issue by allowing the author to set their own price for everything, not to mention allowing the author to do crowd funding right on the PBL platform itself.

How does it work?

The process is as simple as contacting Publica when you want to publish a book, which is then pushed into a smart contract that is governed by a decentralized storage system which allows the author to set the price for each READ (more on READ tokens later) token distrusted by purchases of the book – purchases which any customer can make with PBL tokens. This system is all-inclusive for the publishing process, allowing you to easily contact and pay editors, proofreaders, and so on through the PBL system, bringing the whole package together.

Funds are deposited immediately to the author after purchases, and the customer receives a READ token that now gives them full access to the purchased novels. Now, I’m sure the next question is: What can I do with that READ token? Well, anything that you want, which is one of the biggest boons offered by PBL that current e-books do not allow – complete re-sale of your e-books. No longer are you bound to hold books to one system, and you can even easily loan them out to any of your friends and family.

This isn’t just a benefit for the customer either, as this system also allows publishers to offer buy-back programs and do re-sales of their own – and that’s not even touching on the benefit to publishers this entire system has, as it allows them to bypass normal retailers themselves and sell directly to their customer base.

Summary:

Given all of the above, we think it’s pretty easy to see how this small coin is going to cause a major upset in the publishing world. And if you really think big novels are the only thing we see being published, take a deeper look. The text book industry in the US is currently worth 14 billion alone. Can you imagine every university being able to offer their books directly to their students, the ability to update texts on the fly? We can.

Disclaimer:

All content provided by IRG is purely observational and should not be considered financial advice. IRG is not an investment group, but a research group that meticulously scans the market for those projects deemed to have the most potential. Cryptoassets are subject to high market volatility and risk, invest responsibly at your own risk. Seek a licensed professional before making any investments.

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Decentral magazine is an online media, that treats daily news about cryptocurrency and ICO analysis. The DC team is composed of professional and enthusiastic crypto holders from around the globe. Our mission is to provide you with exclusive content in various languages.